Gulf International Bank UK Ltd raised its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 2,236.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,906 shares of the technology company's stock after buying an additional 4,696 shares during the period. Gulf International Bank UK Ltd's holdings in The Descartes Systems Group were worth $495,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. NBC Securities Inc. bought a new position in shares of The Descartes Systems Group in the first quarter valued at $25,000. GeoWealth Management LLC increased its holdings in The Descartes Systems Group by 63.2% during the fourth quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock worth $39,000 after buying an additional 132 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new stake in The Descartes Systems Group during the first quarter worth about $49,000. Optiver Holding B.V. purchased a new stake in The Descartes Systems Group during the fourth quarter worth about $66,000. Finally, Johnson Financial Group Inc. increased its holdings in The Descartes Systems Group by 830.9% during the fourth quarter. Johnson Financial Group Inc. now owns 875 shares of the technology company's stock worth $101,000 after buying an additional 781 shares during the last quarter. 77.73% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several research firms have recently weighed in on DSGX. Royal Bank Of Canada reduced their target price on shares of The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating for the company in a research note on Thursday, June 5th. Wall Street Zen lowered shares of The Descartes Systems Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Morgan Stanley assumed coverage on shares of The Descartes Systems Group in a research note on Monday, July 14th. They issued an "equal weight" rating and a $110.00 price target for the company. Finally, Barclays lowered their price objective on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating on the stock in a research report on Thursday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $122.18.
Get Our Latest Stock Analysis on The Descartes Systems Group
The Descartes Systems Group Price Performance
NASDAQ:DSGX traded up $0.9780 during mid-day trading on Thursday, reaching $99.0380. 232,995 shares of the company's stock traded hands, compared to its average volume of 345,240. The Descartes Systems Group Inc. has a 12-month low of $92.00 and a 12-month high of $124.31. The firm has a market capitalization of $8.51 billion, a price-to-earnings ratio of 59.74 and a beta of 0.81. The company has a 50 day moving average price of $102.31 and a 200-day moving average price of $105.56.
The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.46 by ($0.05). The Descartes Systems Group had a net margin of 21.67% and a return on equity of 10.53%. The business had revenue of $168.74 million for the quarter, compared to analysts' expectations of $169.60 million. During the same quarter in the prior year, the firm earned $0.40 EPS. The firm's revenue for the quarter was up 11.5% on a year-over-year basis. As a group, analysts forecast that The Descartes Systems Group Inc. will post 1.64 EPS for the current year.
About The Descartes Systems Group
(
Free Report)
The Descartes Systems Group Inc provides cloud-based logistics and supply chain management solutions worldwide. Its Logistics Technology platform offers a range of modular, interoperable web and wireless logistics management solutions. The company provides a suite of solutions that include routing, mobile, and telematics; transportation management; ecommerce, shipping, and fulfillment; customs and regulatory compliance; global trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.
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